Excess Loss Insurance

A ‘Working Excess’ Coverage

A unique unemployment insurance option for nonprofit employers who have already chosen reimbursement financing.

How does it work?

Excessively high claims do happen. Perhaps you lose a grant and need to lay off several people? Our excess loss insurance policies limit your liability when unexpected events such as this happen. The attachment point, point at which this stop loss insurance coverage applies, is based on your organization’s individual profile. The diagram below illustrates the coverage of one of our members:

Excess Loss

Why choose First Nonprofit?

The Excess Loss Insurance limits are calculated for each member based on their size and experience. Individual organization’s coverage limits are not impacted by any other member’s negative claim experience. Not self-funded by group reserves, nor joint and several liability exposure, but true insurance coverage.

How is this program different from the Bonded Service Program?

Excess Loss Insurance covers you from your attachment point up to the maximum limit. The example above illustrates coverage from $100,001 up to $350,000. The Bonded Service Program provides first and last dollar coverage.

How is this program different from the Unemployment Savings Program?

In our Excess Loss Insurance program, we do not hold any of the insured’s funds. The Unemployment Savings Program members make quarterly deposits and receive the benefit of a credit advance up to the attachment point as illustrated below:

Excess Loss USP